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Allowing every challenge to serve its purpose will strengthen your company's reputation in the long term. Whether it's the impact of a prolonged global health crisis or a mismatched partnership that was all wrong from the beginning, operating an organization on a daily basis, supporting your team, and meeting client expectations, through the good times and the bad, does not come without obstacles. What sometimes seems like a series of unforeseen challenges to test your tenacity, build stronger community relations, and demonstrate credibility on the core values your company represents can actually strengthen your company.  Below, 16 Fast Company Executive Board members reflect on how their companies have been able to rise up and revamp a sticky business situation into something good.

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To truly innovate and tap into your company's full creative potential, you need a diverse workforce with equal access to opportunities. Innovation in business is powered by unique perspectives and new ideas. At the forefront of innovation is diversity, equity and inclusion (DEI). Having diverse perspectives from teammates who come from different backgrounds ensures that your team approaches a problem from multiple angles and this can lead to faster resolutions. Diverse teams also adapt to changes more easily, reach more potential customers and offer the opportunity for ground-breaking change. As leaders in their industries, the members of Fast Company Executive Board understand the importance of innovating and the role diversity, equity and inclusion play in achieving it. Below, 15 of them shared the most impactful ways that DEI fuels innovation. 

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Don't let your company's departments get cut off from each other and stop communicating about and progressing toward shared goals. In the early days of a startup, most team members likely wear multiple hats and have to pitch in together on a variety of projects. But as companies grow and develop, different departments may adopt their own project management and communications systems. While it may seem like it's a good idea for every team to find and leverage the tools and processes that work best for them, a drive for "departmental efficiency" can have the unintended effect of creating team silos. If every team or department in an organization is working with a different set of processes, systems, and tools, they may end up engaged in redundant work, overlook important tasks, and struggle to effectively communicate updates and needs with other stakeholders. All of these misfires can eventually lead to frustration for both the staff and the customers and clients the business serves. Fortunately, with the right strategies from leadership, it's possible to prevent the prevalence and minimize the impact of working in silos. Below, 16 Fast Company Executive Board members share their best tips and tricks for establishing a culture that values both maximum efficiency and productive collaboration.

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Your responsibility is to act openly, with conviction and willingness to address your own biases and privilege.

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The growing popularity of livestreamed video content can give businesses a great new way to connect with customers. Many social media platforms today have a livestreaming function, including Instagram, Facebook, LinkedIn, Patreon, and others. When used correctly, livestreams can be a fantastic way to connect and build relationships with customers. They’re a tool to help answer questions, advertise new products, and engage with customers on a personal level. One of the best uses of livestreaming is using it to build a community around your brand. Below, 14 members of Fast Company Executive Board share some of the most effective ways to use livestreaming—including their own positive experiences.